Woon Bing, CFP

08/07/2024

"𝘉𝘢𝘯𝘬 𝘕𝘦𝘨𝘢𝘳𝘢 𝘔𝘢𝘭𝘢𝘺𝘴𝘪𝘢 𝘮𝘢𝘯𝘥𝘢𝘵𝘦𝘴 𝘪𝘯𝘴𝘶𝘳𝘢𝘯𝘤𝘦 𝘤𝘰𝘮𝘱𝘢𝘯𝘪𝘦𝘴 𝘵𝘰 𝘰𝘧𝘧𝘦𝘳 𝘱𝘰𝘭𝘪𝘤𝘪𝘦𝘴 𝘸𝘪𝘵𝘩 𝘢𝘵 𝘭𝘦𝘢𝘴𝘵 𝘢 5 𝘱𝘦𝘳 𝘤𝘦𝘯𝘵 𝘤𝘰-𝘱𝘢𝘺𝘮𝘦𝘯𝘵 𝘰𝘳 𝘙𝘔500 𝘥𝘦𝘥𝘶𝘤𝘵𝘪𝘣𝘭𝘦, 𝘢𝘯𝘥 𝘪𝘯𝘴𝘶𝘳𝘦𝘳𝘴 𝘮𝘶𝘴𝘵 𝘥𝘦𝘷𝘦𝘭𝘰𝘱 𝘴𝘶𝘤𝘩 𝘱𝘳𝘰𝘥𝘶𝘤𝘵𝘴 𝘪𝘧 𝘵𝘩𝘦𝘺 𝘥𝘰𝘯'𝘵 𝘢𝘭𝘳𝘦𝘢𝘥𝘺 𝘦𝘹𝘪𝘴𝘵."

Co-payment/Deductible is not something new, it's just BNM step in to require Insurers to provide more choices to future policyholders.

Generally, these options requires policyholders to share a fraction of the medical bill's cost with respective insurer and in return, the premium that the policyholders pay will be reduced.

In recent years, most insurers (if not all) have revised their premium upwards and caused many policyholders to face financial hardship, hence prompting BNM to intervene.

Starting September 1, 2024, Malaysians can choose between new, cheaper medical insurance with co-payment features or existing plans without co-payment but higher premiums. Bank...

16/04/2024

Upcoming Webinar!

In this session, we'll dive deep into the challenges posed by debt and how it can hinder your progress towards financial freedom.

If you want to learn some practical strategies and tips to help you effectively manage debt, improve your credit score, and achieve greater financial stability, then attending this will be a great step forward.

Register yourself via this link: https://bit.ly/myWebinar

21/03/2024

Want to manage your money better?

Come join this webinar to learn and apply!

13/03/2024

Check if yourself or family have any unclaimed money --> https://egumis.anm.gov.my/login

https://www.thestar.com.my/news/nation/2024/03/13/hidden-windfall-for-many-people

PETALING JAYA: Homemaker Jessica Lai thought it was a scam when she was told she could find unclaimed money on the government portal eGUMIS.

12/03/2024

Another gold investment scam 😅

"...he saw a scheme that offered high returns of 14% to 21% per month."

PETALING JAYA: Businessman Rifqi Abu Bakar thought he was onto a good thing when he saw a scheme that offered high returns of 14% to 21% per month.

06/03/2024

Do not miss-out attending the EXPO 50+ at Setia City Convention Centre. Visit our FPAM booth No. 6 for free consultations on retirement planning with our Licensed Financial Planners!

See you there!😀

04/03/2024

Excited to share my insights on the rising trend of D***s (Dual Income, No Kids) in Malaysia, featured in the South China Morning Post! 🌏

Many folks I talked to mentioned money as a big reason for their choice.

Considering the current economic climate, I believe it will be the main topic for discussion moving forward.

Are you and your spouse considering the idea of having children, but not quite sure if it is the right call?

Well, I have shared my insights on this topic and would love to hear your thoughts! Let's connect!

Their reasons vary – and it’s not always to do with finances. But societal stigma persists, even in a world that’s increasingly overpopulated.

22/01/2024

The Securities Commission Malaysia (SC) has warned the public against investing in or dealing with Hap2py, an unauthorised peer-to-peer (P2P) financing platform in Malaysia.

10/01/2024

💭 𝑰𝒔 𝒎𝒐𝒏𝒆𝒚 𝒂 𝒈𝒐𝒂𝒍, 𝒐𝒓 𝒊𝒔 𝒊𝒕 𝒂 𝒕𝒐𝒐𝒍 𝒕𝒉𝒂𝒕 𝒉𝒆𝒍𝒑𝒔 𝒚𝒐𝒖 𝒖𝒏𝒍𝒐𝒄𝒌 𝒕𝒉𝒆 𝒅𝒐𝒐𝒓 𝒕𝒐 𝒚𝒐𝒖𝒓 𝒅𝒓𝒆𝒂𝒎𝒔?

"I want to invest and earn at least RM500,000."

"Ok, then what do you plan to do with the RM500,000?"

"Then I want to reinvest it and earn another Million. "

"Right, but after you get all these money, what would it help you to do?"

"I am not too sure, I just want to earn more money."
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Ever found yourself in a similar conversation about wanting to earn more money just for the sake of it? It is quite common, right?

The above is a very normal response for many of us, because we were brought up thinking that having more money is the goal.🏁

So what happens if money is your goal?

Well, if you always aim to have more money in life, you might never feel content. It's like a never-ending race that brings stress and unhappiness. 🏃‍♂️💸

Then what if, you have different goals and use money to achieve them?

If you start seeing money as a tool to reach what truly matters to you, you begin to concentrate on things that make you really happy. It is about using money wisely to get the most satisfaction in life.

Of course, having enough money is important for our financial well-being, but in fact, money is just a tool, not a goal.

What are the examples of financial tools?

They are money, savings account, e-wallets, credit cards, investments and many more. They falls under the category of financial tools that we Control and not the other way around. 💳🔧

Finally, let us pause and reflect.

Are you accumulating money for the sake of it, or are you planning your life's blueprint using the tools at our disposal?

📷 Photo Credit: Mohamed Hassan from Pixabay

08/01/2024

For a long time, I only knew about the seven wonders of the world until the day I learned that there are actually eight! 😂

Anyway, in simple terms, compounding interest means that your money grows and earns money on its own, something like creating a snowball effect.

Hence, the longer your money stays invested or saved, the more powerful the compounding effect becomes, where it helps your wealth to grow over time. It's a way for your money to work and make more money for you.

Sp, where would you prefer to compound your money? 🤔

Pic credit: A-Z Quotes

05/01/2024

𝗛𝗮𝘃𝗲 𝘆𝗼𝘂 𝗵𝗲𝗮𝗿𝗱 𝗼𝗳 𝘁𝗵𝗲 𝘁𝗲𝗿𝗺 - 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗕𝘂𝗯𝗯𝗹𝗲?

If yes, do you know when and where it first occurred?

Well, the world's 🌎 first recorded financial bubble was the Tulip Mania in the Netherlands in the 17th century, where the prices of tulip bulbs soared to astronomical levels before crashing.

Back in the 1630s, tulips in the Netherlands weren't just flowers; they were a hot commodity. People went crazy buying and selling tulip bulbs, with prices reaching sky high levels – like spending a life time savings on a single bulb.

This tulip mania created a bubble where everyone thought they could make easy money. But, like all bubbles, it eventually burst.

Prices crashed, and those who had invested lost big. The Tulip Mania is a valuable piece of history, teaching us about the risks of getting caught up in hype without considering real value. 🌷💸

If you want to learn more about this, you can watch this video -> https://www.youtube.com/watch?v=m1e7k46OqJs

So, learning from this piece of history, can you recall any similar bubbles that had happened in the past?

Pic credit: medium.com